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GM may kill 6 car models as it works with UAW to tackle sales slump

The president of the United Auto Workers union said on Thursday the union is talking with General Motors about the potential threat to plants and jobs from slumping U.S. car sales. GM's response will be more trucks and SUVs, and sources say at least six slow-selling car models may be killed off. "We are talking to (GM) right now about the products that they currently have" at underused car plants such as Hamtramck in Michigan and Lordstown in Ohio, and whether they might be replaced with newer, more popular vehicles such as crossovers, Dennis Williams told reporters. "We are tracking it (and) we are addressing it," Williams added. GM has cut shifts at several U.S. plants this year as inventories of unsold cars have ballooned. Industry analysts said more jobs could be at risk as the automaker wrestles with permanently shrinking production of small and midsized sedans. GM is reviewing whether to cancel at least six passenger cars in the U.S. market after 2020, including the Chevrolet Volt hybrid, which could be replaced in 2022 with a new gasoline-electric crossover model, Reuters has learned from people familiar with the plans. Other GM cars at risk include the Buick LaCrosse, Cadillac CT6, Cadillac XTS, Chevrolet Impala and Chevrolet Sonic, sources said. Some analysts have singled out GM's Hamtramck plant in Detroit as one of the most vulnerable because of plummeting car sales. The plant, which opened in 1985, builds four slow-selling models: Buick LaCrosse, Chevrolet Impala, Cadillac CT6 and Chevrolet Volt. In the first half, it built fewer than 35,000 cars, down 32 percent from the same period in 2016, according to suppliers familiar with GM's U.S. production schedule. The typical GM assembly plant builds 200,000-300,000 vehicles a year.COMING ATTRACTIONS: TRUCKS AND SUVS GM must "create some innovative new products" to replace slow-selling sedans "or start closing plants," said Sam Fiorani, vice president of AutoForecast Solutions. The auto maker already has begun to shift future production plans from cars to trucks, according to Morgan Stanley auto analyst John Murphy. He estimates that fewer than 10 percent of the new vehicle models that GM will introduce over the next four years will be passenger cars, with the rest divided among trucks, SUVs and crossovers. GM plans to add production of the new Cadillac XT4 crossover next year to its Malibu sedan plant in Fairfax, Kansas.

GM won't pay owners of recalled cars for lost value

Kenneth Feinberg, the man in charge of the General Motors compensation fund dealing with the its widespread ignition switch woes, has issued an informal, two-letter response to the plaintiffs in more than 70 lawsuits seeking redress for lost resale value of their Cobalts: "No." The cases were recently combined into one, but Feinberg told The Detroit News that the fund will deal "only with death and physical injury claims," and that "perceived diminished value" will get no consideration.
ALG, the firm specializing in establishing residual values, determined that Cobalt owners had lost $300 compared to the segment competition and doesn't envision any long-term effects from the recall situation. Feinberg's statement comes in advance of public details on how the compensation fund will work and adheres to GM's long-held position on the matter. The company has already asked a judge to throw out such suits using the pre-bankruptcy defense, even as it stopped using that defense in cases of injury and death.
With plenty of potential gain from the GM suit, however, don't expect the plaintiffs to give up yet. When Toyota was sued for the same reason during the unintended acceleration debacle, it eventually settled the case for between $1 billion and $1.4 billion just to get it over with. Since the 85 law firms involved in the Toyota litigation took home more than $250 million of that total, we shouldn't expect the attorneys to give up on a GM payout, either.

Audi S4 drivers are the most accident-prone, insurance report says

Culling data from more than 4.6 million automobile insurance applications, researchers at the Insurify insurance comparison marketplace picked a winner — or more to the point, a loser — in its determination of the car model with the most accidents so far in 2023: the Audi S4. Why does the sporty, luxury-class German sedan rank so high (or so low)? The organization found that S4 drivers, piloting a car with almost 350 horsepower, are among those who collect the most speeding tickets, and that they get into accidents at a rate 54 percent higher than the national average. If the S4 isnÂ’t a surprise with an at-fault accident rate of 11.7 percent, consider the “family friendly” brand that appears three times on the Insurity list: Subaru. It is represented by three models, including the turbocharged WRX and XV Crosstrek, and at the better-performing bottom of the list, the Subaru Impreza, with an accident rate of 10.3 percent.  In 2023, 7.6 percent of U.S. drivers were involved in at least one at-fault accident in the prior seven years. For drivers of cars on this list, the average at-fault accident rate was 10.5 percent, meaning these drivers are 1.4 times as likely to have an at-fault accident on record. According to its statement, the Insurity data science team explored key safety features, driver behavior, and Insurance Institute for Highway Safety (IIHS) evaluations to pinpoint possible reasons behind these carsÂ’ high accident rates. Following is the list, counting down to the models with most reported accidents: 10. Subaru Impreza (percentage of drivers with a prior at-fault accident on record: 10.3 percent; MSRP base model): $19,795) 9. Kia Niro (percentage of drivers with a prior at-fault accident on record: 10.4 percent; MSRP base model): $26,590) 8. Chevrolet Silverado LD (percentage of drivers with a prior at-fault accident on record: 10.4%, MSRP base model): $34,500) 7. Subaru XV Crosstrek (percentage of drivers with a prior at-fault accident on record: 10.5 percent, MSRP 6. Subaru WRX.(percentage of drivers with a prior at-fault accident on record: 10.7% MSRP base model): $29,605) 5. Toyota GR86 (percentage of drivers with a prior at-fault accident on record: 10.8 percent MSRP base model): $29,900) 4. Hyundai Veloster N (percentage of drivers with a prior at-fault accident on record: 10.9 percent; MSRP base model): $32,500) 3.